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There will be opportunities for those advisers who opt out from continuing to provide the advice to stay in the industry by carrying on as business owners, Sequoia Financial Group says.
The corporate regulator needs to make sure its new breach reporting regime is focused on significant breaches and not minor administrative matters, according to an industry association.
The decrease in adviser roles number this week was almost twice as many as the loss of actual advisers at 100 and 53, respectively, due to double authorisations, according to data.
With the ongoing fee arrangement obligations coming into place in two weeks, the corporate regulator needs to explain its guidance surrounding ‘consent’ on the payment of commissions on life insurance products as it will confuse advisers, according to an industry association.
The cost of recovering additional funding by the Government along with the decrease in the number of advisers year-on-year has led to the corporate regulator’s licensee levy.
